Debt Recovery

Commercial & Business Debt Recovery

Having unpaid debt can be hard on businesses of any size. The longer debts remain unpaid, the harder it is for companies to manage cash flow and liquidity. Business debt recovery allows businesses to boost their cash flow with the help of experienced collectors. Debt recovery agents have the knowledge and communication skills needed to enforce your unpaid invoices.

Whether you have a portfolio of debtors or are chasing a single invoice, our team of specialist business debt recovery lawyers can help.

Our team is headed up by Spencer Craig, a speecialist Debt Recovery & Civil Litigation Consultant. Spencer and his team provides a personal service for businesses of all sizes.

Our Fixed Fees

Our prices are very competitive and we believe that we may be unique in that we deal with the issue of claims in the County Court on a fixed fee basis and charge only the solicitors recoverable costs (plus VAT) together with the court fee and do not charge any additional irrecoverable costs. Details of our up to date fixed fee issue in the County Court is set out below:

Amountof Debt

CourtFee

Solicitors’Cost Plus VAT

AdditionalCost

AmountRecoverable

£25 – £299.99

£35

£50

Nil

£85

£300.01 – £499.99

£50

£50

Nil

£100

£500.01 – £1,000

£70

£70

Nil

£140

£1000.01 – £1,500

£80

£80

Nil

£160

£1,500.01 – £3,000

£115

£80

Nil

£195

£3,000.01 – £5,000

£205

£80

Nil

£285

£5,000.01 – £10,000

£455

£100

Nil

£555

£10,000.01 – £15,000

5% of the value of the claim

£100

Nil

The Court fee in full plus the £100.00Solicitors costs

£15,000.01 – £50,000.00

£100

Nil

£50,000.01 – £100,000.00

£100

Nil

£100,000.01 – £150,000

£100

Nil

£150,000.01 – £200,000

£100

Nil

Greater than £200,000

£10,000.00

£100

Nil

£10,100.00

We also deal with the entry of Judgment on the same basis in that we charge only the fixed costs recoverable from the Defendant on the entry of Judgment plus VAT (see schedule below

Wherethe Amount of Judgment Exceeds £25.00 but Does Not Exceed £5,000

Wherethe Amount of Judgment Exceeds £5,000

Recoverable

fromDebtor

Default of an Acknowledgement of Service

£22.00

£30.00

All

Default of Defence

£25.00

£35.00

All

Judgment of Admission

£40.00

£55.00

All

Judgment After Refection of Offer

£55.00

£70.00

All

Any additional work is charged at a competitive hourly rate which is proportionate to the value of the debt. The hourly rates are:

Solicitor / Legal Executive – up to £5,000 – £118.00 per hour

Solicitor / Legal Executive – £5,000.01 to £15,000 – £160.00 per hour

Solicitor / Legal Executive – £15,000.01 plus – £185.00 per hour

We can also deal with contested debts from the early stage of following the Pre-Action Protocol right up to post-litigation and trial.

PLEASE NOTE VAT CHARGED ON SOLICITORS COST IS NOT RECOVERABLE FROM THE DEBTOR

STANDARD 7-DAY SOLICITORS’ LETTER

(TO BE SENT TO A LIMITED COMPANY, PLC OR LIMITED

LIABILITY PARTNERSHIP)

£50.00 PLUS VAT

SPECIAL DEMAND LETTER PERSUANT

TO THE LATE PAYMENT OF COMMERCIAL

DEBTS (INTEREST) ACT 1998 (AS AMENDED 2013)

£75.00 PLUS VAT

SPECIAL DEMAND LETTER TO BE SENT TO AN INDIVIDUAL (INCLUDING SOLE TRADERS) IN COMPLIANCE WITH THE PRE-ACTION PROTOCOL FOR DEBT CLAIMS

£50.00 PLUS VAT

CUSTOM DRAFTED WINDING UP

OR SPECIAL DEMAND LETTER

AS PER HOURLY RATE

Please note that for new commercial clients who are going to send debts in volume the above standard prices for letters are open to negotiation.

CONTACT

Please provide a brief outline of your query below, and one of our solicitors will contact you shortly.